Consensus Analyst Ratings-Sell
Bed Bath & Beyond Forecast & Analysis:
According to the forecasts of 13 analysts, the average target price for Bed Bath & Beyond’s stock over the next 12 months is $7.05. However, the analysts have given the stock an average rating of “Sell,” and Stock Target Advisor’s own analysis of the company’s stock is “Very Bearish,” meaning that it expects the stock to perform significantly worse than the market as a whole. This analysis is based on 1 positive signal and 10 negative signals. The Bed Bath & Beyond’s stock price at the last closing was $1.69, and it has decreased by 32.94% over the past week, 53.19% over the past month, and 87.36% over the past year.
Analyst Coverage Change:
This week several analysts have recently lowered their target prices or rating for Bed Bath & Beyond’s stock. KeyBanc has lowered its target price to $0.1, UBS has lowered its target price to $1.5 and maintained a “Sell” rating, Telsey Advisory Group has maintained an “Underperform” rating and lowered its target price to $2, Wells Fargo has maintained an “Underweight” rating and lowered its target price to $2, and Jefferies Financial has lowered its target price to $7.
Bankruptcy:
Bed Bath & Beyond is expected to file for bankruptcy in the coming weeks due to poor sales and competition from online and big-box retailers. The company may skip debt payments due on February 1 in order to conserve cash. Bed Bath & Beyond’s shares declined 30% on Thursday to $1.69, and dropped to $1.31 on Friday, after the company announced that it expects to report a significant loss in the third quarter and that there is substantial doubt about its ability to continue as a going concern. The company is considering various options, including bankruptcy, to address its declining sales, but has not made any final decisions.
About Bed Bath and Beyond:
Bed Bath & Beyond is a US retail chain that sells a wide variety of home goods, including bedding, bath towels, kitchen electrics, cookware, cutlery, and storage and organization items. The company was founded in 1971 and is headquartered in Union, New Jersey. It has over 1,500 stores in the United States, Puerto Rico, and Canada. In addition to its brick-and-mortar stores, the company also operates an online store. Bed Bath & Beyond is known for its extensive selection of products and its “Beyond Any Other Store” price match policy, which allows customers to price match products with those sold at other retailers.
